Privacy Policy

Privacy Policy for http://museum-madness.blogspot.com/

If you require any more information or have any questions about our privacy policy, please feel free to contact us by email at sanusidella@gmail.com.

At http://museum-madness.blogspot.com/, the privacy of our visitors is of extreme importance to us. This privacy policy document outlines the types of personal information is received and collected by http://museum-madness.blogspot.com/ and how it is used.

Log Files

Like many other Web sites, http://museum-madness.blogspot.com/ makes use of log files. The information inside the log files includes internet protocol ( IP ) addresses, type of browser, Internet Service Provider ( ISP ), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user’s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.

Cookies and Web Beacons

http://museum-madness.blogspot.com/ does use cookies to store information about visitors preferences, record user-specific information on which pages the user access or visit, customize Web page content based on visitors browser type or other information that the visitor sends via their browser.

DoubleClick DART Cookie

.:: Google, as a third party vendor, uses cookies to serve ads on http://museum-madness.blogspot.com/.

.:: Google's use of the DART cookie enables it to serve ads to users based on their visit to http://museum-madness.blogspot.com/ and other sites on the Internet.

.:: Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy at the following URL - http://www.google.com/privacy_ads.html

Some of our advertising partners may use cookies and web beacons on our site. Our advertising partners include ....

Google Adsense

These third-party ad servers or ad networks use technology to the advertisements and links that appear on http://museum-madness.blogspot.com/ send directly to your browsers. They automatically receive your IP address when this occurs. Other technologies ( such as cookies, JavaScript, or Web Beacons ) may also be used by the third-party ad networks to measure the effectiveness of their advertisements and / or to personalize the advertising content that you see.

http://museum-madness.blogspot.com/ has no access to or control over these cookies that are used by third-party advertisers.

You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. http://museum-madness.blogspot.com/'s privacy policy does not apply to, and we cannot control the activities of, such other advertisers or web sites.

If you wish to disable cookies, you may do so through your individual browser options. More detailed information about cookie management with specific web browsers can be found at the browsers' respective websites.

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Cost Leadership Competitive Strategy

In general, a firm has a competitive advantage when it is able to create more economic value than rival firms. Economic value is simply the difference between the perceived benefits gained by a customer that purchases a firm's products or services and the full economic cost of these products or services. (Barney and Hester, Page 11)

How a firm can create competitive advantage?

A firm can keep its cost same as the competitor, but can increase the benefits gained by a customer by enhancing the product benefits.

The other alternative is to keep the product benefit similar to the competitors, but reduce the cost of production and distribution operations.

Porter says, a company has to make a strategic choice between the two, he means that to be successful with any of these choices, the company has to spend significant amount of time in identifying and developing innovative solutions that support the strategic choice and both can't be pursued by a single business unit.

Who are the cost leaders in various industries.

Ryanair, Southwest Airlines
Walmart in retail sales
Timex and Casino in watches
BIC in disposable pen and razor market
Hyundai in automobile
Tata Steel in steel industry
Many cement plants
RBC Bearings   http://www.rbcbearings.com/aerospace/index-intro.htm
Nucor


Sources of Cost Advantage

1. Size and economies of scale
2. Size and diseconomies of scale
3. Experience difference and learning-economies
4. Access to low-cost resources
5. Technological advantages independent of scale
6. Policy choices


Management controls in implementing cost leadership

Management controls imply plans, measurements and control actions.

Cost leadership firms are characterized by very tight cost-control systems. It means, there is detailed planning, frequent measurement of actual costs, and control actions to come out with more detailed plans to achieve cost targets or replanning the higher level plans to reach the still higher level plans. Control action could imply, more experienced managers take over the responsibility of an activity that is behind target.

Target achievement is provided incentives. Failure to achieve plans and targets is noticed and disincentives are in place to minimize them. Managers who fail to achieve targets can't have a long career.